The Quick Demise of WISE Token - The Price-Killing Destructive Power of Massive Liquidity

Last year, WISE founder Peter Girr,

announced his "new" project and hailed it as something revolutionary in the crypto world. A token that was designed to be staked, which would pay interest to the stakers in the form of more tokens created by controlled inflation. That announcement caught my attention. It sounded a lot like another token I had already invested in called HEX. I read the whitepaper, and had some questions. I joined the telegram group and started asking them. Nearly immediately, Peter gave me my first "warning" about talking about "scam projects" in his channel. I had simply stated that the project was very similar to HEX (spoiler alert...it is). I am not normally a boat rocker...so I dm'd Peter and let him no I meant no offense. He basically said there was no room in his channel for negativity or dissent. I left the chat and waited for the token auction to begin.

It turns out that Peter was also a HEX investor, and that he made a 15x ROI before he "saw the light" and "realized" HEX was a scam( it isn't...HEX actually defeats scammers). He dumped his HEX and started working on WISE (which is essentially a HEX clone, regardless of what Peter says).

I invested a small amount of ETH over about 15 different non-lotto days and managed to dollar cost average my tokens at 14 cents each based on my ETH cost when I started. When the tokens were released on Dec 31st, I staked half of them until my wife's birthday in April, and left the other half liquid. There was a lot of hype in the TG channel about promotion and youtube "influencers" getting onboard. This led me to think that a price spike was going to come quickly...and it did...for a few days... WISE soared to about 95 cents...and I was getting ready to take a 7x when it hit $1....then...it all went to shit. The price plummeted quickly...seemingly because all of the influencers were dumping their tokens on the heads of the hodl'ers. Now, there has been little if any movement in price from the 54 cent level.

I found this really curious. Why would a staking token with a huge amount of ownerless liquidity not keep up with the rest of the market in terms of price gains? ETH is supposedly correlated to the price of WISE. ETH has had massive gains recently, yet WISE has barely moved, and has even dropped a few days. I went to the channel and asked in very clear language, and was immediately answered/attacked by a moron who had just commented that ETH fees were ridiculous and they should move of the ETH Network. I responded in kind with insults of my own and explained why ETH fees are so high.

Girr jumps in and threatens to ban. He doesn't like dissenting viewpoints. I let it go, but the other guy doesn't. I again respond and tell him to go F#@$ himself. I get kick banned immediately. I promptly sold my liquid WISE on Uniswap and will dump the other staked tokens when they mature in April.

WHAT DID I LEARN FROM THIS PROJECT?

1. Peter Girr is going to ban you from his chat room if you don't tow his line. He has to be the smartest guy in the room at all times, or there will be problems.

2. MOST "Crypto Influencers" are a subset of borderline criminals that have no interest in making you wealthy. They want to line their pockets only, and will dump their holdings on your head as soon as the pump phase ends, leaving you with worthless bags of shit coins. If they are promoting more than one or two coins and you feel like they are shady...trust me...they are.

3. Copies or clones of things are always inferior to the original, no matter what the founder wants to tell you. HEX has been a huge success and is a top 15 coin on Nomics with over a $6 billion market cap. WISE, AXION, and others have tried to replicate the success and failed miserably.
   

1. Price Go Up matters to most crypto investors. Huge ownerless liquidity sounds good on paper. Unfortunately, unless you are trading huge amounts of WISE, it is near impossible for your trades to move the market price even a little bit. Also, by burning the liquidity tokens, the founders are forcing you to trade on Uniswap V2 forever. What will happen when a newer, better, more efficient version of UNI comes along? That liquidity cannot be migrated so you are stuck trading on an older inefficient platform. Like a chump.

2. There are a ton of interesting projects out there, but HEX is the only one I have ever bought that did not make me any promises. The code is complete, triple audited, and has been running flawlessly without interruption since launch. It just works, and very well at that. I have made a huge return on investment and will continue to do so.

3. Community support for any crypto project can be the difference between life & death. I have been involved in a few big losers (Halo Platform and GIFcoin come to mind). Both of them basically made promises that they didn't keep, refused to be accountable for failure, and at the end, banned any narrative that they didn't like. WISE is quickly going down that road.

There is no affiliate links in this article. I will recommend you take a good hard look at HEX.com and learn what you can about this amazing product. Avoid WISE like it has the really bad version of COVID-19...the kind you don't recover from.

questions...thoughts...comments...please let me know below.